Capital Infra Trust (erstwhile National Infrastructure Trust; NSE Symbol: CAPINVIT, BSE Scrip Code: 544338) a leading infrastructure investment trust (InvIT), announced its financial results for the fourth quarter and full year ended March 31, 2026.

FY26 marks a year of execution, with the Trust scaling its asset base, strengthening the balance sheet and establishing a sustainable distribution profile backed by operating HAM assets.

Key Operational & Financial Highlights (Q4 & FY26):

Portfolio Performance

Skydo, a cross-border payments platform for Indian exporters and businesses, has received in-principle approval to operate as a Payment Service Provider (PSP) at Gujarat International Finance Tec-City (GIFT City) International Financial Services Centre (IFSC), making it among the first cross-border fintechs to secure a GIFT City licence.

GIFT City IFSC gives Skydo access to a globally aligned financial ecosystem designed specifically for international financial services. Unlike India's domestic financial system, which is primarily designed around INR-denominated flows and local financial activity, GIFT City enables companies to build products and infrastructure tailored for businesses operating across borders.

The approval enables Skydo to expand capabilities such as multi-currency collections, e-money accounts and merchant acquisition, while building new payment corridors for Indian businesses operating globally. Over time, this also creates the foundation for more globally native financial products for Indian businesses.

Cantabil Retail India Limited (CRIL / Company), one of India's leading integrated retail player with pan India presence declared its Financial Results for the quarter and year ended March 31, 2026. CRIL with over 3 decades presence is in the business of designing, manufacturing, branding and retailing of apparels under the brand name of CANTABIL.

Standalone Performance highlights for FY26

As of 1:00 PM, the Nifty50 was down 9.00 points or 0.04 per cent at 23,614.30, and the Sensex fell 58.83 points or 0.08 per cent to 75,135.93.

N ArunaGiri, CEO of TrustLine Holdings. 

To understand the sharp decline in FII ownership in large blue-chip stocks, one first needs to look at the broader context of overall foreign institutional ownership in India and how India's weight in the MSCI EM Index has evolved over the last few years.

For perspective, FII ownership in Indian-listed equities has fallen to a fourteen-year low of around 14.7%, compared to nearly 18% levels seen a few years ago. At the same time, India's weight in the MSCI Emerging Markets Index has sharply declined from over 20% about two years ago to over 12%+ currently.

Seen in this backdrop, the fall in FII ownership in blue-chip stocks appears to be less about a shift from large blue chip stocks to broader markets within India and more a consequence of a larger global allocation trade by foreign investors. This is a very important distinction to understand.

What has effectively played out is a reallocation of FII capital away from India towards markets such as Taiwan and Korea, where compelling AI-led investment narratives have emerged (especially semiconductor chips based). The changing weights within the MSCI EM Index reflect this trend quite clearly, with Taiwan and Korea witnessing a meaningful increase in index weights even as India's share has steadily declined in the MSCI EM Index.

That said, the recent trading sessions suggest that the intensity of FII selling may finally be approaching exhaustion. With valuations turning increasingly attractive, there are early signs of foreign investors selectively returning to Indian markets, going by positive flows in the last three trading sessions despite worsening geopolitical tensions, currency and oil price pressure points.

India's valuation premium over other emerging markets, which at one point had widened to nearly 100%, has now moderated to around 66%. Simultaneously, the rupee trading near all-time lows could also make Indian assets attractive from a currency appreciation perspective over the medium term.

The recent inflows should therefore not be interpreted as a full-fledged comeback by FIIs, but more as the beginning of a tactical re-entry trade, driven by improving relative valuations and signs that the worst of the selling pressure may already be behind.

WSB Partners, a real estate-focused investment firm, has forayed into tier II markets with a Rs 75 crore investment in Omaxe Group. The funding is against residential plotted projects in Ujjain and Indore; two high-growth Tier II markets benefiting from strong demand fundamentals and ongoing infrastructure development.

Tier II and III cities are increasingly attracting institutional capital, driven by a combination of rising incomes, improving affordability, and significant infrastructure investments. Expanding industrial and spiritual corridors, enhanced connectivity, and evolving social infrastructure are creating self-sustaining local economies, while relatively lower real estate prices and limited supply of branded developments are accelerating end-user demand and absorption.

The capital will be primarily utilised as growth capital, alongside a portion allocated toward working capital and reserves.

This investment, undertaken alongside affiliates of WSB Partners and co-investors, reinforces WSB's continued focus on partnering with established developers to capitalise on opportunities, including those in high-growth Tier II and III markets. The strategy is anchored in strong execution capability, cashflow visibility, and disciplined structuring. 

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The Thesis

With Wall Street notching a third straight losing session on rising yields and India VIX stubbornly elevated at 19.5, InvestorAi is taking the defensive route - pharma and healthcare lead the book, with explosives leader Solar Industries as a parallel geopolitical hedge despite Trump's last-minute Iran de-escalation. The setup reflects a Nifty trapped in a 23,300-23,800 range, with FIIs selling ₹2,457 cr Tuesday and DIIs absorbing ₹3,801 cr on the other side.

Where We're Concentrated

The heaviest tilt is defensive - pharma (Zydus, Laurus, Apollo) plus hospitals (Max Healthcare) and rate-sensitive insurance (ICICI Pru Life) - paired with a contrarian metals exposure via Vedanta and Hindalco even as Brent eased to $111. Autos (Maruti, TVS, Exide) signal selective domestic-consumption confidence. The thesis breaks if Nifty cleanly clears 23,800 on volume - that forces rotation back into banks and IT, where the book is intentionally light.

Conviction Picks

Highest Conviction

Zydus Lifesciences

Defensive earnings flow at a moment when VIX above 19 punishes cyclicals.

Highest Conviction

Solar Industries

Defence/explosives demand stays sticky regardless of Iran de-escalation - structural order book trumps near-term geopolitics.

Vedanta

Contrarian metals bet - depends on dollar weakness translating before commodity demand falters.

Max Healthcare

Healthcare delivery resilient through rate-volatility cycles; pricing power intact.

One Thing to Watch

Nifty 23,800. A clean breach on volume invalidates the defensive tilt and forces rotation into banks and IT.

BTC dipped below $77K as macro pressure returned. Markets are now watching the next 48-72 hours closely, with US and Iran both signaling the possibility of further military action. For BTC, any escalation matters because it could strengthen the dollar and lift oil prices,. ETF flows are also seeing outflow with spot BTC ETFs added $1.68B+ in the first five days of the month, but those gains have now been erased after outflows. $76.5K is the immediate support zone, If BTC holds here, it may attempt another bounce toward $77.5K.

The United States on Tuesday announced sweeping new sanctions targeting Iran's financial and petroleum networks.

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Rajesh Palviya, Head of Research, Axis Direct

The Nifty surrendered an early advance to close 32 points lower at 23,618 on Tuesday, forming a bearish candle with a pronounced upper shadow as late selling in index heavyweights erased gains from the broader market. Global cues remained unsupportive, with Wall Street extending losses for a third straight session as the S&P 500 declined 0.67%, while the US 30-year Treasury yield climbed to its highest level in nearly 19 years, intensifying concerns around elevated global interest rates and tighter liquidity conditions. Rising U.S. bond yields also kept the dollar firm, pushing the Indian rupee to fresh record lows against the greenback and adding pressure on emerging-market sentiment. Asian markets are trading mixed this morning. Among commodities, gold remains elevated near $4,500, silver hovers around $74, copper is steady, while Brent crude continues to hold above $110 - an unfavorable setup for inflation and currency stability. GIFT Nifty indicates a negative opening for domestic equities. Technically, the 23,400-23,300 zone remains a crucial support band for the bulls; a decisive breach could drag the index toward 23,100-23,000. On the upside, unless Nifty reclaims 23,750 decisively, momentum is likely to remain capped, while only a sustained move above 23,900-24,000 would meaningfully improve the near-term outlook.

At the close on Tuesday (May 19), the total market cap of all BSE Sensex companies stood at Rs 4,59,65,152.